3,009
edits
Difference between revisions of "Buying a Condominium"
From Clicklaw Wikibooks
no edit summary
Dial-A-Law (talk | contribs) |
Dial-A-Law (talk | contribs) |
||
| Line 136: | Line 136: | ||
Be especially careful about rent-to-own, time share and other non-standard forms of acquiring a strata lot, and do not enter into any such agreement without comprehensive legal advice. | Be especially careful about rent-to-own, time share and other non-standard forms of acquiring a strata lot, and do not enter into any such agreement without comprehensive legal advice. | ||
More information | ==More information== | ||
*Check script [[Owning a Condominium (Script 401)|401]], called “Owning a Condominium”. Because buying a condo is very similar to buying a house, you should also check script [[Buying a House (Script 406)|406]], called “Buying a House”. It outlines many important topics not covered here, including “subject to” clauses, title searches, fraud risks, property inspections, the statement of adjustments, and more. | |||
*If you need financing, check script [[Mortgages and Financing a House Purchase (Script 408)|408]], called “Mortgages and Financing a House Purchase”. | |||
*Familiarize yourself with the ''Strata Property Act'' available at [http://www.bclaws.ca www.bclaws.ca]. Click on “Statutes and Regulations” and then on “S” in the alphabetical list; scroll down to the name of the Act and click on it. You can also get a copy of the Act from Crown Publications in Victoria at 250.387.6409 or toll free at 1.800.663.6105. Its website is [http://www.crownpub.bc.ca www.crownpub.bc.ca]. Some libraries also have copies of BC laws. Make sure you also get a copy of any amendments to the Act and the Regulations. | |||
*Study the bylaws and rules for any condo project you are interested in. | |||
*The Financial Institutions Commission website [http://www.fic.gov.bc.ca www.fic.gov.bc.ca] has information on the Act: click on “Strata Property.” But this information is not always up to date. | |||
*Check the website of the Condominium Home Owners Association of BC at [http://www.choa.bc.ca www.choa.bc.ca]. | |||
*The Condominium Manual by Mike Mangan is available at public libraries. | |||
[updated November 2014] | [updated November 2014] | ||
